Refinery Ventures Announces Acquisition of Portfolio Company, ENGAGE Talent
Key Investment for Firm's First Fund Experiences Exit in Less than Two Years
CINCINNATI, Oct. 30, 2019 /PRNewswire/ -- Refinery Ventures, the early-scale venture capital firm, today announced that its portfolio company, ENGAGE Talent, a predictive analytics and AI software company, has been acquired by Workforce Logiq, a global provider of workforce management software and services to large corporations. ENGAGE Talent was one of the first investments for Refinery Ventures, in which the firm co-lead the company's Series A round. ENGAGE Talent co-investors include Grand Ventures, Revolution Rise of the Rest Seed Fund and High Alpha Capital. Workforce Logiq is owned by global investment firm The Carlyle Group.
"Joe Hanna has led ENGAGE Talent to achieve extraordinary growth over the last two years and has been essential in positioning the company as an industry leader," said Tim Schigel, managing partner of Refinery Ventures. "When I first met with the ENGAGE Talent team, I quickly realized that the company had all of the assets Refinery looks for in an investment – team, technology and an emerging market. I'm thrilled to have been a part of this journey and look forward to the next chapter with Workforce Logiq."
ENGAGE's patent-pending Talent Retention Risk (TRR) ScoreSM is an employment volatility benchmark that enables real-time predictive recruiting and retention decision making. ENGAGE's TRR Scores also position organizations to anticipate and plan for future skill supply and demand gaps. The company's proprietary ENGAGE 5D ProfileSM predicts the optimal candidate-specific workplace attraction characteristics, enabling organizations to tailor recruitment and retention messaging based on the unique attributes most likely to optimize job appeal, including company environment, organizational stability, strength of leadership, and opportunities for growth.
"We are extremely proud of our accomplishments at ENGAGE Talent with the support of our advisors, investors, and board" said Joe Hanna, ENGAGE Talent's CEO. "The Refinery team was instrumental in providing not only financial and strategic support to help us achieve our goals, but the expertise needed to help us navigate the company's hypergrowth. We couldn't be more thankful of their support over the last two years."
About ENGAGE Talent
ENGAGE Talent offers the first Total Talent Intelligence™ platform for companies that recognize the impact of people on business performance. ENGAGE uses AI predictive models with data from 40,000 external sources to deliver the most holistic and validated talent intelligence worldwide. Market leading companies depend on ENGAGE to improve talent acquisition, candidate engagement, competitive intelligence, and labor market analytics. ENGAGE was awarded the Most Interesting AI Company in HR Technology from HR Examiner, 2019. For more information, please visit www.engagetalent.com.
About Refinery Ventures
Established in 2017 by Tim Schigel, Refinery Ventures is an investment firm focused on disruptive, early-scale companies. Drawing from his extensive experience in founding and serving as CEO of ShareThis, the most recognizable icon on the Internet, to creating the Cintrifuse Syndicate Fund, where he raised over $57 million, Schigel built Refinery Ventures to bridge the gap between the Midwest and the coasts. Refinery Ventures is located in Cincinnati Ohio. For more information, please visit www.refinery.com.
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SOURCE Refinery Ventures
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